Car insurance reviews

Cryptocurrencies and “black box” car insurance are increasingly causing consumer disputes, according to the Financial Ombudsman Service (FOS). In its annual report, the financial services arbitrator said it is updating its approach to stay on top of the range of new challenges consumers face when managing their money. The Bitcoin craze which began in December and continued into 2018 caused the value of cryptocurrencies like Bitcoin to shoot to more than $16,000 (£12,000) per digital coin, and this was reflected in “a small number” of complaints to FOS. The service received 339,967 new complaints in 2017-18, an increase of almost 20,000 on the previous year, while 400,658 cases were resolved. More than half of new complaints related to mis-sold payment protection insurance (PPI). High interest “payday loans” were highlighted as an area of specific concern with 17,256 new complaints lodged, an increase of 64pc. … [Read more...] about Cryptocurrencies and ‘black box’ car insurance among new complaints for ombudsman

Car insurance premiums are cheaper than they were one year ago while premiums for combined home and contents insurance fell in the last quarter. According to a report by break down and insurance company AA, car insurance premiums peaked during the second quarter of 2017 but have fallen steadily since then to an average premium of £660.64, which is 0.7 per cent cheaper than this time last year and two per cent cheaper than in the fourth quarter of 2017. The AA’s director of insurance Michael Lloyd said: “This is a glimmer of good news for drivers who are facing rising fuel prices and increased vehicle excise duty rates.” Read more: Queen reveals motor insurance premiums to fall by £35 per year Lloyd said that one of the reasons insurers were offering lower rates was confidence engendered by the government’s commitment to review the Ogden rate by which payouts to those injured in car accidents is calculated. “Insurers’ confidence in offering … [Read more...] about AA says car insurance premiums cheaper than they were a year ago

Motoring by Press Association 17/04/2018, 12:10 pm FacebookTwitterWhatsAppEmail Send us a story Sign up to our Daily newsletter The price of car insurance in the UK has fallen for the first time since 2014, it was announced. Figures gathered by insurance comparison website Confused.com show that the average price of a policy has fallen by 2 per cent – giving customers an average saving of £13. A review of the Ogden rate, the system by which personal injury compensation is decided, appears to have reduced insurance rates, while reform to whiplash claims will also have had an impact. The legislation aims to take low-payout whiplash cases out of the courts and into a separate arbitration system – aiming to cut down on the number of fraudulent cases. Whiplash cases cost the insurance industry up to £2 billion per year. Confused.com notes that despite the recent price drop, insurance is still far pricier than it has been in the past. Back in … [Read more...] about Car insurance prices fall for the first time in three years

Prices for car insurance in the Bristol region have dropped for the first time in three years. The unexpected U-turn has seen prices in the region drop by £44, according to car insurance comparison site Confused.com. This means now it costs drivers £603 a year on average to insure a car – seven per cent cheaper than it was even three months ago. Prices are also down year-on-year, dropping by £12. But new research by Confused.com reveals customers who renew with the same insurer are not benefitting from these savings. In fact, those who stayed with the same insurer and renewed their car insurance between January and March this year saw their premiums go up by £45 on average. Insurers appear to have reduced prices following the Government’s announcement of a review of the Ogden Rate discount, which is expected in April 2019 and could mean insurers pay out less when a claim is made. The Government has also announced a reform to the way whiplash claims are … [Read more...] about This is how much you could save on car insurance following price fall

Business By Kevin Peachey Personal finance reporter 16 April 2018 Share this with Facebook Share this with Twitter Share this with Messenger Share this with Messenger Share this with Email Share Share this with These are external links and will open in a new window Email Share this with Email Facebook Share this with Facebook Messenger Share this with Messenger Messenger Share this with Messenger Twitter Share this with Twitter Pinterest Share this with Pinterest WhatsApp Share this with WhatsApp LinkedIn Share this with LinkedIn Copy this link http://www.bbc.com/news/business-43751418 Read more about sharing. These are external links and will open in a new window Close share panel Car insurance prices have fallen for the first time in three years, a survey suggests, owing to a reaction to government policy.Reforms to the law on whiplash and a review into how … [Read more...] about Car insurance costs fall on whiplash ban